|
(3) Accumulated Other Comprehensive Loss
The following table provides changes in accumulated other comprehensive income (“AOCI”), net of tax, reported in our unaudited condensed consolidated financial statements for the periods ended November 30 (in millions; amounts in parentheses indicate debits to AOCI):
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
Foreign currency translation loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
(932 |
) |
|
$ |
(1,078 |
) |
|
$ |
(785 |
) |
|
$ |
(1,207 |
) |
|
Translation adjustments |
|
|
(94 |
) |
|
|
124 |
|
|
|
(241 |
) |
|
|
253 |
|
|
Balance at end of period |
|
|
(1,026 |
) |
|
|
(954 |
) |
|
|
(1,026 |
) |
|
|
(954 |
) |
|
Retirement plans adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
|
51 |
|
|
|
58 |
|
|
|
53 |
|
|
|
60 |
|
|
Reclassifications from AOCI |
|
|
(2 |
) |
|
|
(2 |
) |
|
|
(4 |
) |
|
|
(4 |
) |
|
Balance at end of period |
|
|
49 |
|
|
|
56 |
|
|
|
49 |
|
|
|
56 |
|
|
Accumulated other comprehensive (loss) at end of period |
|
$ |
(977 |
) |
|
$ |
(898 |
) |
|
$ |
(977 |
) |
|
$ |
(898 |
) |
The following table presents details of the reclassifications from AOCI for the periods ended November 30 (in millions; amounts in parentheses indicate debits to earnings):
|
|
|
Amount Reclassified from
AOCI |
|
|
Affected Line Item in the
Income Statement |
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
|
Amortization of retirement plans
prior service credits, before tax |
|
$ |
3 |
|
|
$ |
2 |
|
|
$ |
5 |
|
|
$ |
5 |
|
|
Other retirement plans (expense) income |
|
Income tax benefit |
|
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
Provision for income taxes |
|
AOCI reclassifications, net of tax |
|
$ |
2 |
|
|
$ |
2 |
|
|
$ |
4 |
|
|
$ |
4 |
|
|
Net income |
|